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Mass social housing building needed, campaigners urge as house prices rocket 7.1 times annual average earnings
A MASS building programme of social housing is desperately needed, campaigners urged today after new figures showed that house prices were “rocketing” and reaching unaffordable levels.
Mortgage lender Halifax said that a “typical” UK home now costs 7.1 times annual average earnings.
It estimated that the “average earnings” of a full-time worker are £39,402, and the average house price is £239,281 — up 16.8 per cent since the start of the pandemic in 2020.
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